Shariah Legacy Planning and Mechanisms

Dr Sadali Rasban
Hardback, 458 pages
9789819447480

Many Muslims believe they cannot plan for the distribution of their assets upon death. Advised by religious scholars and even legal professionals, they assume that asset distribution upon death must strictly follow the Muslim law of Faraid; and regardless of how any plans they make, their asset distribution is ultimately subject to Faraid principles.

However, the primary objective of Shariah legacy planning is to protect dependants, ensure justice and fairness, and facilitate a smooth distribution of assets.

For effective legacy planning, Muslims must understand the available mechanisms and how they are applied. These applications rely on asset ownership structures and relevant distribution laws, particularly in light of the evolving nature of assets such as CPF savings, insurance policies, and investment products.

Legacy planning must account for changes in social, economic, and family structures, as well as the Administration of Muslim Law Act. A thorough understanding of AMLA is essential for navigating the complexities of asset distribution mechanisms upon death.

This book serves as a comprehensive guide, offering detailed insights into the application of asset distribution mechanisms within a secular state like Singapore. Its content is invaluable for understanding and implementing effective legacy planning.

Adopting the right mechanisms and strategies in legacy planning is essential for aligning Shari'ah with state law. This requires harmonising the application of Common, Civil, and Muslim laws to fulfil Maqasid al-Shariah, ensuring a comprehensive and legally sound legacy plan.